Privacy & Security | Guarda – Non-Custodial Crypto Wallet (2024)

Crypto wallet is required not only to store your coins but also to perform operations with cryptocurrencies that must be kept private and secure.

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Privacy & Security

The right to confidentiality and the security of personal data remains one of our fundamental human rights.

The modern world has wonderful technologies. One of the most serious digital inventions of the last few decades is blockchain technology and cryptocurrencies, created to protect the right to personal finance. Cryptocurrencies have set their goal of changing the traditional banking system to make it transparent, secure, and open.

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Cryptocurrencies have taken financial privacy to a new level. The main terms of privacy are anonymity and untraceability; anonymity meaning the inability to establish the identity of a user on the network and untraceability meaning the inability to associate network activities with specific users.

Decentralization used in blockchain makes you the one and only to control your funds. No one can block your wallet. Funds cannot be seized, frozen or confiscated.

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Custodial
vs Non-Custodial.

A Non-Custodial wallet provides you with a full control of your funds. Only you are responsible for the security of your crypto assets. Non-custodial wallets don’t store private keys, backup files or any user data on its servers. The keys are encrypted and stored on the user’s devices.

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Only You Have Access

Guarda allows users to own and fully manage their private keys and user data.

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Your Funds Are Safe

Guarda has no control over your funds and private keys.

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Fast And Simple Crypto Transactions

Custody-free service makes your fund management much easier and faster.

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Minimal Hacking Threat

In non-custodial wallets, private data is not stored on the company’s servers, so the hacker’s threat is significantly reduced.

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Secure Data

Your crypto assets are safe thanks to high levels of security. Using Guarda Wallet, users do not need to enter personal data to create a wallet, deposit or withdraw their funds. Guarda never asks for private info and doesn't store private keys on the company's servers, because it is not necessary. All user data is known only by the user. Therefore, no one will ever be able to deanonymize you.

To have access to the cryptocurrency wallet where your funds are stored, you need to have a password and a backup file generated when creating a wallet. Store this data on several devices. If you lose private keys or backup file, you will lose access to your wallet. We advise you to protect your devices against hacking. Provide increased protection of smartphone and PC: Install anti-virus, anti-malware and don’t store your passwords in a browser cache

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Privacy & Security | Guarda – Non-Custodial Crypto Wallet (2024)

FAQs

Is a non-custodial crypto wallet safe? ›

Popular non-custodial crypto wallets are reliable, but still have their disadvantages. If the private key and the phrase to recover it are lost, the funds will also be irretrievably lost. It is worth being especially careful with “brainwallet”, i.e. with storing data in your memory or on paper.

What is the most secure and private crypto wallet? ›

The 8 Best and Most Secure Crypto Wallets for 2024
  • Guarda.
  • The 4 Best Cold Wallets for 2024.
  • Ledger Nano X.
  • Trezor Model T.
  • Ellipal Titan 2.0.
  • NGRAVE Zero.
  • Wrapping Up: How to Choose a Wallet Type.
  • References.
Dec 1, 2023

Can non-custodial wallets be hacked? ›

Non-custodial wallets are generally safer than custodial wallets, but risks do exist. A few risks of non-custodial wallets include: Hacking risk.

What is the safest decentralized wallet? ›

Top Decentralized Crypto Wallets
  • Coinbase Wallet – Popular decentralized wallet that connects to the popular Coinbase exchange.
  • Crypto.com DeFi Wallet – Crypto wallet with staking and support for dApps, and NFTs.
  • Uniswap Wallet – Secure decentralized wallet with seamless connection to one of the largest DEXs.
Mar 12, 2024

What is the main benefit of keeping your crypto in a non-custodial wallet? ›

Using non-custodial wallets, cryptocurrency investors may operate as their own bank. This is so that users have complete control over their private keys while using non-custodial wallets. The wallet provider cannot access the private keys; hence the user is the only one who can approve transactions.

What crypto wallet is untraceable? ›

The Ledger Nano X is one of the most popular hardware wallets on the market and it's fully anonymous. The wallet comes loaded with privacy and security features that not only protect a user's identity, but also ensure their crypto is completely safe.

What is the safest crypto hard wallet? ›

Trezor is widely considered the safest crypto wallet on the market. Trezor can be used with the online Trezor web wallet on desktop or mobile, or via the downloaded Trezor suite app on desktop.

Where is the safest place to store crypto? ›

The answer to the question “what is the safest way to store crypto” is a self-custody cold storage wallet. As covered earlier, options include hardware wallets and paper wallets. But that's not to say that holding 100% of funds in cold storage is right for everyone.

What is the most trustable crypto wallet? ›

The best software wallets
  • Coinbase Wallet. Best for Beginners. ...
  • MetaMask. Best for Ethereum. ...
  • Guarda. Best for cryptocurrency selection. ...
  • Crypto.com DeFi Wallet. Best for DeFi staking. ...
  • Trust Wallet. Best for Binance and Binance.US users. ...
  • Exodus. Best for customer support. ...
  • ZenGo. Best for easy account recovery. ...
  • Ledger.

Which type of wallet has higher security? ›

A cold wallet offers more security benefits because it is not connected to the internet or another device.

Are crypto wallets safer than banks? ›

Cryptocurrencies utilize blockchain technology, which has several security features. Transactions are stored in a special code with a timestamp, making it difficult for cybercriminals to access. Many banks are exploring the possibility of integrating this system into their own operations.

Do non-custodial wallets need KYC? ›

Account creation for custodial wallets may be a lengthier process. Users need to complete Know Your Customer (KYC) and Anti Money Laundering (AML) forms for security and regulatory compliance. This can be a lengthy and time-consuming process. Non-custodial wallets, on the other hand, do not require KYC / AML.

Can someone steal my crypto with my wallet address? ›

Q: Can someone steal my cryptocurrency if they have my wallet address? A: While it's unlikely someone can steal cryptocurrency with your wallet address alone, crypto wallets can be hacked through other means, such as phishing, malware, or social engineering tactics.

Is Coinbase non-custodial wallet safe? ›

Keep your assets secure

Coinbase Wallet is a self-custody web3 wallet, putting you in full control of the private keys to your assets on the blockchain. Nobody, including Coinbase, can access your tokens or NFTs without your recovery phrase.

What is the disadvantage of custodial wallet? ›

Disadvantages of custodial wallets

The main disadvantage of custodial wallets is that you must entrust your funds and private keys to a third party. These service providers will almost always require identity verification (KYC). You will also have to worry about losing your funds if this third-party provider is hacked.

Is a non-custodial wallet the same as a cold wallet? ›

Non-custodial wallets include any type of cold wallet solution, or “hardware wallet,” such as Ledger, KeepKey or Trezor devices.

Are non-custodial wallets regulated? ›

In contrast, non-custodial wallets are not subject to regulation because the user is in control of their private keys and funds.

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